Don’t miss the latest developments in business and finance.

Zinc gains 0.5% on spot demand, global cues

Positive data from China influences prices

Image
Press Trust of India New Delhi
Last Updated : Jan 25 2013 | 5:33 AM IST

Amid pick up in domestic demand and a firming global trend, zinc prices rose by 0.50% to Rs 101 per kg in futures trade today.

At the Multi Commodity Exchange, zinc for delivery in October traded higher by 50 paise, or 0.50%, to Rs 101 per kg, with a business turnover of 1,686 lots.

November zinc edged up by 40 paise, or 0.39%, to 102.30 per kg, with a business turnover of 209 lots.

Marketmen said besides pick up in demand in the spot market, a firm global trend after data showed China's industrial production, retail sales and fixed-asset investment accelerated in September, boosted demand outlook for industrial metals, helping zinc to trade higher at futures trade here.

Meanwhile, zinc gained 0.4% on the London Metal Exchange.

More From This Section

First Published: Oct 18 2012 | 2:02 PM IST

Next Story